Gartner, Inc. $IT Holdings Decreased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has decreased its stake in Gartner, Inc. by 43.2% during the first quarter, now owning 944,072 shares valued at approximately $396.27 million.
• Gartner reported a quarterly EPS of $3.53, exceeding the consensus estimate of $3.38, with total revenue of $1.66 billion, showing a 5.7% increase from the same quarter last year.
• Analysts have lowered their price targets for Gartner, with UBS setting a new target of $270, down from $480, and Wells Fargo dropping theirs to $225, indicating mixed sentiment towards the company's stock.

Wellington Management Group LLP lowered its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 43.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 944,072 shares of the information technology services provider's stock after selling 717,933 shares during the period. Wellington Management Group LLP owned approximately 1.23% of Gartner worth $396,265,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC bought a new stake in Gartner during the 4th quarter valued at $27,000. Itau Unibanco Holding S.A. raised its stake in Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock valued at $40,000 after acquiring an additional 68 shares in the last quarter. Olde Wealth Management LLC bought a new stake in Gartner during the 1st quarter valued at $42,000. GW&K Investment Management LLC raised its stake in Gartner by 210.8% during the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after acquiring an additional 78 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Gartner during the 1st quarter valued at $55,000. Institutional investors own 91.51% of the company's stock.

Insider Activity

In related news, Director Jose M. Gutierrez bought 417 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the acquisition, the director directly owned 2,080 shares of the company's stock, valued at $498,784. The trade was a 25.08% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.30% of the stock is owned by insiders.

Gartner Price Performance

Shares of NYSE IT traded up $4.87 during mid-day trading on Friday, reaching $249.53. The company had a trading volume of 1,274,220 shares, compared to its average volume of 823,903. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The stock has a market cap of $18.90 billion, a PE ratio of 15.36 and a beta of 1.19. The company has a 50-day moving average price of $342.34 and a two-hundred day moving average price of $410.43. Gartner, Inc. has a 1-year low of $223.65 and a 1-year high of $584.01.

Gartner (NYSE:IT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.38 by $0.15. The business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The company's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Wall Street Analyst Weigh In

IT has been the topic of several recent analyst reports. The Goldman Sachs Group cut their target price on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. UBS Group reissued a "neutral" rating and issued a $270.00 price objective (down previously from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Morgan Stanley dropped their price objective on Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. BMO Capital Markets dropped their price objective on Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company dropped their price objective on Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $369.25.

Gartner Company Profile

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.